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To be clear, this doesn't mean that all versions of the device will see Android 5.0 in the next two months. The probable scenario is that the unlocked, international model is first in line, followed by additional regions in the ensuing weeks.

It's also worth pointing out that wireless providers can sometimes delay the update process by a few weeks or months. But, should US Galaxy S5 owners see Lollipop in the first two months of 2015, that time frame is considerably better than previous Android releases.

Lest they risk losing market share, Samsung will want to ensure their key devices see timely software updates. While other hardware makers have already confirmed updates and rough dates for Android 5.0, Samsung has remained somewhat tight-lipped.